The Regional Comprehensive Economic Partnership went into effect on January 1, 2022. In the first quarter of the RCEP implementation, Zhongshan Customs issued 378 RCEP-related certificates of origin for 61 enterprises in Zhongshan, with the value of goods exceeding 90 million yuan. The export destinations are mainly Japan and South Korea, of which Japan accounts for nearly 98%; and the main products exported include plastic packaging containers, tableware, bags, clothing, furniture accessories, etc.

China and Japan reached their first bilateral tariff reduction under the RCEP, marking a historic breakthrough. Thanks to the RCEP certificates of origin, a large number of Zhongshan-made and Zhongshan specialty products have been exported to Japan.

Mr Du, customs supervisor of Zhongshan Yilibao Plastic Products Co Ltd, noted that the company had applied for 58 RCEP certificates of origin in the first quarter, with the value of goods exceeding 20 million yuan. "From April 1 this year, Japan has entered its second fiscal year, and the tax rate of the tax goods dropped to 3.2%. It is estimated that by the end of 2022, the RCEP C/Os will generate preferential tariff reductions of nearly 600,000 yuan for the customers in Japan."

The RCEP came into effect for South Korea on February 1 and Malaysia on March 18. At present, there are now 12 member countries of the RCEP.